Letter to the editor: Give Trump’s plans the chance to do some good

Published 11:44 pm, Thursday, January 12, 2017

To the editor:

Whether you detest or like Donald Trump, he has an opportunity to better our economy substantially.

Economists Larry Kudlow and Brian Domitrovic have just written a book titled “JFK and the Reagan Revolution, a Secret History of American Prosperity.” The book describes how Kennedy and Reagan put forth an economic policy that featured tax cuts, sound money, free trade, spending restraint and minimal regulation. The result was economic prosperity.

Under eight years of Barack Obama, the U.S. economy has not grown more than 1.8 percent per year.

The current corporate tax rate is 35 percent, which is one of the highest in the world. Now, with GOP control of both houses, Trump can push for a lower rate — between 15 percent and 25 percent. Barron’s recommends a rate of 22½ percent, while others recommend 15 percent.

He can also encourage the repatriation of overseas profits with a special repatriation tax rate.

These policies are likely to lead to economic growth of 2½ to 3 percent in 2017 and 4 percent in 2018 and beyond. With growth, companies are likely to hire more workers. More workers mean more tax revenues.

I am sure Trump will also want to work with the Democrats to develop an infrastructure program that the country badly needs.

We are stuck with Trump for four years, so instead of complaining about his cabinet appointments, let’s let this man do us some good.